£18bn cuts to public services

growstuff

Interesting that the UK spent 3.9% of GDP on education in 2018/19

commonslibrary.parliament.uk/research-briefings/sn01078/

South Korea spends almost 7%.

biz30.timedoctor.com/average-salary-in-south-korea/#a-breakdown-of-average-salary-in-south-korea

Over 74% of South Koreans pursue a postgraduate level degree.

People working in education earn, on average, almost as much as bankers.

I wonder if there's a lesson there somewhere!

I think that should be saved and sent to every MP.

MaizieD

Katie59

Most people spend what they have month to month, you have a higher or lower standard of living and according to your lifestyle.

It seems the majority here are content with the economic state of the UK, they don’t want change, the fact that the UK has been steadily loosing its value is OK and we should just keep borrowing more, without putting in any more effort.

OK, Liz. We've got the message. Brits are a load of idle workshy grifters who prefer to sponge off the state rather than work 12 hours a day, 7 days a week.

This is exactly the reply I expected

Katie59

Most people spend what they have month to month, you have a higher or lower standard of living and according to your lifestyle.

It seems the majority here are content with the economic state of the UK, they don’t want change, the fact that the UK has been steadily loosing its value is OK and we should just keep borrowing more, without putting in any more effort.

OK, Liz. We've got the message. Brits are a load of idle workshy grifters who prefer to sponge off the state rather than work 12 hours a day, 7 days a week.

Most people spend what they have month to month, you have a higher or lower standard of living and according to your lifestyle.

It seems the majority here are content with the economic state of the UK, they don’t want change, the fact that the UK has been steadily loosing its value is OK and we should just keep borrowing more, without putting in any more effort.

growstuff

bear1

we must stop those who were not born here of became citizens of the UK havig free health treatment we have to become like the majority of the world and charge them for all health care we would have to in their country stop people arriving here via the taxi service and being put up for free in hotels we could save millions a year and the NHS would get back millions from those who come here for the free holiday in a nhs hospital and get their ops done for free

How would you organise that?

Nigel Farage's spelling has got a lot worse.

Katie59

MaizieD

Katie59

Singapore has an average salary of double the UK, the environment cannot possibly be worse than London or any other large city.

www.bbc.com/travel/article/20210407-singapores-endless-pursuit-of-cleanliness

What is their median wage, Katie59?

'Average' can conceal gross inequality.

Inequality of course

Median wage in US $
UK around 2500 a month
Singapore around 4500 a month

Cost of living in Singapore US$

Family of four estimated monthly costs: $6,744 (SGD $9,626)
Single person estimated monthly costs: $4,146 (SGD $5,918)

www.expatistan.com/cost-of-living/singapore?currency=USD

Cost of living in the UK

Average cost of living for a household in the UK is £3, 073 per month in 2022 ($3413)
Average living cost for a single person in the UK is £2,005 per month ($227.09)

Oh, MaisieD, how I loved your cartoon ! Many thanks?

Growstuff that’s the top rate of tax average is somewhat less than UK

Up to £28k 15%
10
Bands
Over £650k 45%

MaizieD

Katie59

Singapore has an average salary of double the UK, the environment cannot possibly be worse than London or any other large city.

www.bbc.com/travel/article/20210407-singapores-endless-pursuit-of-cleanliness

What is their median wage, Katie59?

'Average' can conceal gross inequality.

Inequality of course

Median wage in US $
UK around 2500 a month
Singapore around 4500 a month

From the same article as above:

South Korea has one of the fastest broadband networks in the world along with a commitment to renewable technologies and exceptional infrastructure. According to Bloomberg’s Innovative Index 2021, South Korea ranked as the most innovative country in the world.

The Korean government announced new plans of spending over 8 trillion KRW every year from 2020 to 2023 in an attempt to maintain safe and sustainable infrastructure.

The country has also set a budget of USD 3.9 Billion in 2020 for technologies such as Artificial Intelligence (AI) in an attempt to boost R&D, economic growth, and infrastructure.

The South Korean state is pro-active in investment. It doesn't leave it to random rich people, in the hope that some of the wealth will trickle down.

Personal income tax and other taxes in South Korea are high:

tradingeconomics.com/south-korea/personal-income-tax-rate

Katie59

Singapore has an average salary of double the UK, the environment cannot possibly be worse than London or any other large city.

www.bbc.com/travel/article/20210407-singapores-endless-pursuit-of-cleanliness

What is their median wage, Katie59?

'Average' can conceal gross inequality.

Interesting that the UK spent 3.9% of GDP on education in 2018/19

commonslibrary.parliament.uk/research-briefings/sn01078/

South Korea spends almost 7%.

biz30.timedoctor.com/average-salary-in-south-korea/#a-breakdown-of-average-salary-in-south-korea

Over 74% of South Koreans pursue a postgraduate level degree.

People working in education earn, on average, almost as much as bankers.

I wonder if there's a lesson there somewhere!

Singapore has an average salary of double the UK, the environment cannot possibly be worse than London or any other large city.

www.bbc.com/travel/article/20210407-singapores-endless-pursuit-of-cleanliness

Thought I'd heard of "Enterprise Zones" before. As I remember they were vehicles for giving money to people who opened up new businesses which usually closed not long after getting huge amounts in government grants. (I might be wrong)
And there are still "Levelling up" organisations which don't seem to have done much

I mentioned Germany as an exporter to us another is South Korea, they have a similar population and are a large manufacturer of goods we import, but they are not low wage.
With the low value of sterling the average salary is higher than the UK with growth of 4% in 2021 and a budget surplus of £5-10bn year after year.

The UK could and should do much better

Katie59

Truss has announced “enterprise zones” in the UK so that specific help can be given to technology and business, this sort of initiative can only be good. If it does not bear fruit we can look forward to a slowly declining UK economy.

Her problem now is that she destroyed her credibility by announcing a Mini Budget, then had to back down on several parts.

I don't think I can agree on this one Katie. If you want to create the slums of the future this seems to be a good way to go about it. I do feel those who talk with glee about Singapore on Thames have never seen how the majority live there.

Katie59

Truss has announced “enterprise zones” in the UK so that specific help can be given to technology and business, this sort of initiative can only be good. If it does not bear fruit we can look forward to a slowly declining UK economy.

Her problem now is that she destroyed her credibility by announcing a Mini Budget, then had to back down on several parts.

Do you not realise that 'Enterprise Zones', like freeports, are based on the complete elimination of 'regulation'. That means planning controls, health and safety legislation, worker's pay and conditions?

Creating enclaves of Wild West anarchy outwith state control seems to me like a very bad idea.

As I understand it, the 'regulations' holding back growth are most likely, according to business leaders, to be those imposed by our severance from the EU, putting up barriers to trade where none have existed for 40+ years and completely disrupting their established trade.

Enterprise Zones were tried years ago by the tories, were no great success and were quietly abandoned. You do know the definition of madness, don't you?

Katie59

Truss has announced “enterprise zones” in the UK so that specific help can be given to technology and business, this sort of initiative can only be good. If it does not bear fruit we can look forward to a slowly declining UK economy.

Her problem now is that she destroyed her credibility by announcing a Mini Budget, then had to back down on several parts.

And aren’t those enterprise zones allowed to be set up anywhere including protected areas. Isn’t that why organisations such as the RSPB are begging people to write to their MP’s

Truss has announced “enterprise zones” in the UK so that specific help can be given to technology and business, this sort of initiative can only be good. If it does not bear fruit we can look forward to a slowly declining UK economy.

Her problem now is that she destroyed her credibility by announcing a Mini Budget, then had to back down on several parts.

growstuff

And how many well-paid jobs will robots provide?

It's a pipe-dream to think that there will be massive private investment in that kind of technology in the UK.

In Germany, the government works very closely with businesses, so that companies like Mercedes and VW have the transport infrastructure and training they need to flourish. They don't just leave it to a handful of random hedge fund managers and hope they will invest in something useful.

We don’t have surplus labour, we want better paid skilled jobs for those we have, producing goods we can export as well as use in the UK

Germany does it, we have allowed ourselves to fall behind.

growstuff

Don't be silly! It's not just about investment. It's about wages, geography, climate, etc etc.

How could investing in growing rice in the UK work?

Were you always this rude? I hadn't noticed it before. I ask a totally innocuous question and you attack me personally. Others give a reasoned opinion, and you use personal attack as your argument yet again.

Gransnet is getting very unpleasant at times. I understand strong argument, but people seem to think they have a right to be right at the moment. No doubt it will pass.

Katie59

We are not going to compete with cheap labour but we can compete with technology, if we invest, much of the stuff we import is made by robots. A few years ago we toured a new Mercedes factory in Germany, there were very few workers, just robots doing all the repetitive work, they were German robots too, our factories are way behind.
The new technologies for renewable are all foreign, we missed that boat too, we really have to take manufacturing seriously.

The last manufacturing plant I worked just as COVID hit has closed down and the capacity moved to another country. Not, you will be amazed to learn, a country with lower wages, but one in the EU. Because the ease of exporting from within the EU to other countries far outweighs the extra salary costs.

The first plant I worked in had robots to do the repetitive stuff. 35 years ago.

Nothing's ever as straightforward as we think it is.

Time for my picture again, I think

And how many well-paid jobs will robots provide?

It's a pipe-dream to think that there will be massive private investment in that kind of technology in the UK.

In Germany, the government works very closely with businesses, so that companies like Mercedes and VW have the transport infrastructure and training they need to flourish. They don't just leave it to a handful of random hedge fund managers and hope they will invest in something useful.

Only governments can provide the kind of targeted infrastructure investment which is needed to enable growth.

It needs saying again and again only government can provide the needed investment.

But they won't, because cutting government spending is going to grow the economy.

And no foreign company with any financial nous is going to invest in the UK's economy with a declining domestic market and trade barriers with the UK's nearest big market.

The days of the likes of Nissan revitalising deprived areas are long gone...